The Pros and Cons of Employee Car Ownership. By Jim Salkeld

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Mention ECO scheme to your local HM Revenue and Customs (HMRC) office and youll be lucky if the only response you get nowadays is a heavy sigh. Some inspectors have such a negative attitude to what they perceive as pseudo company car schemes that youll be sorely tempted to give it up as a bad idea without properly investigating the possibilities. Yet if you persevere and get it right these schemes can deliver quite outstanding savings, and also add value to your car benefit package. The trick is to understand their limitations and apply the schemes selectively.

ECO schemes are undoubtedly complex, being specifically designed to counter Company Car Tax (CCT) according to the prevailing tax regime. There are also many variations around, including some that will challenge HMRC patience and...

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